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June 19, 2014
06:05 EDTRBYRubicon Minerals announces Phoenix Gold Project on schedule, on budget
Rubicon Minerals has substantially advanced the Phoenix Gold Project, with project construction and development remaining on budget and on schedule for projected production in mid-2015. Advance rates on both the lateral and vertical development have been tracking on schedule. Rubicon has completed 875 meters of a planned 8,023 meters of total underground development at and above the 685-metre level. The completion of this planned underground development is required to commence projected production. The company continues lateral development at the 122-, 183-, 244-, 305-, 610-, and 685-metre levels. The 244- and 305-metre levels were previously advanced to the deposit, prior to the completion of shaft sinking. An exploration drift on the 244-metre level is progressing well, with 13 drill stations completed of a planned 18 stations. There are two drills currently operating on the level. The development of the main ventilation pilot raise from the 305-metre level to surface will be completed by the end of June. At the present time, all underground development is being carried out by a contractor. Rubicon is in the process procuring equipment and hiring staff to replace the majority of the contractors engaged in lateral development, which could potentially lower costs and increase productivity.
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November 24, 2014
17:52 EDTRBYRubicon Minerals, Wabauskang First Nation reach settlement agreement
Rubicon Minerals is pleased to announce that is has entered into a Settlement Agreement and an Exploration Accommodation Agreement with Wabauskang First Nation. Under the Settlement, WFN has agreed to discontinue its appeal against Rubicon regarding the August 28 decision made by the Ontario Divisional Court to dismiss the application for judicial review in respect of Rubicon's production closure plan for its fully-permitted Phoenix Gold Project. In turn, an EAA has been signed and terms of a potential benefits agreement are outlined in the Settlement. The EAA governs the Company's exploration work on WFN lands, which includes the continuing exploration work being done at the Phoenix Gold Project. The key features of the EAA include the following: WFN will support Rubicon's exploration work, including support of the application for licenses and permits for such work; The company will provide certain benefits to WFN based on exploration expenditures incurred by Rubicon on its mineral claims within lands used by WFN; Rubicon will work in good faith to identify employment opportunities for WFN members in accordance with agreed principles; Rubicon will follow industry best environmental practices and will work with WFN to incorporate WFN's cultural values and traditional knowledge into its environmental programs; Rubicon will work with WFN to protect culturally sensitive sites as identified by WFN; and Rubicon and WFN will work together in good faith during the negotiation of a benefits agreement, which would include discussions on further benefits and contracting opportunities for WFN businesses, and further support for Rubicon projects.

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